Delta did improve its funding ratio slightly during 2015 to 45.4%, up from 42.8% the previous year.

During 2015, Delta’s plan assets rose by just $19 million, to $9.374 billion from $9.355 billion the previous year. Delta contributed $1.219 billion to its plans, although that was mostly offset by $1.059 billion in benefits paid, an investment loss of $132 million and $9 million in settlements.

The majority of the improvement in funding ratio came from a drop in liabilities, to $20.61 billion from $21.86 billion the previous year, due to an increase in the discount rate to 4.57% from 4.14% the year before.

The plan’s target allocation is 40% to 50% growth-seeking assets, which includes equities; 25% to 30% risk-diversifying assets, which includes alternatives; and 20% to 30% income-generating assets, which includes fixed income.